Richemont appoints Wikstrom, Burberry expands in the Americas, J. Crew drops, Della Valle and Saks

Jude Law for Dunhill 09, courtesy of Dunhill

Jude Law for Dunhill 09, courtesy of Dunhill

Richemont Creates Post To Turn Around Ailing Brands (WSJ)
“The world’s second-largest luxury company by sales named Martha Wikstrom, 52, head of a portfolio comprising most of Richemont’s less-prominent brands, including Alfred Dunhill and Lancel, which market so-called soft luxury goods such as leather and fashion.”

Burberry eyes expansion in U.S. (Guardian)
“While other retailers apply the brakes on expansion, Burberry plans to open 10 to 15 stores this fiscal year, with five stores planned in North and South America.”

J. Crew Profit Falls 33 percent Amid More Markdowns (WSJ)
J. Crew Group Inc.’s fiscal first-quarter profit tumbled 33 percent on inventory markdowns, but shares rose in late trading as its results exceeded estimates.”

Italy’s Della Valle says Saks stake strategic investment (Reuters)
“Della Valle has acquired a 5.9 percent stake in Saks and last week told Italian newspaper Il Sole 24 Ore he intended to increase it, without saying by how much. Reports have said he has an option to go to 10 percent.”